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Price elasticity

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What is price elasticity of demand?

What is the relationship between income and price elasticity of demand?

What is cross price-elasticity of demand?

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Economics

1.
Price Elasticity of demand is broadly defined as the reactivity or sensitivity of demand for a product to the changes in its price. Mainly, it is percentage change in quantity required of a product, due to the percent change in its cost. ...

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